Barnes, who joined as president in 2004 and became chairman and chief executive the following year, has had mixed success three years into a turnaround plan. In the quarter ending in March, sales and net income increased, but the company revised down its guidance for the full year. The same month, with the stock hitting a 10-year low, Barnes personally bought 7,000 Sara Lee shares. Sara Lee is rumored to be a takeover target. Barnes spent 22 years at PepsiCo and ran Starwood Hotels & Resorts briefly in 1999 and 2000. — Allison Fass

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